The central bank is stuck between a rock and a hard place, which it knows fully well.
It is tough for the bears to gain traction with their macro arguments, when dip buyers and aggressive pockets of trading action remain -- so continue to look to price action for guidance.
Nothing seems to matter anymore except which stock to buy, a staggering conclusion with 11% unemployment and a raging epidemic.
At the start of the coronavirus crisis, lockdowns were driving layoffs, but now weak demand is leading to job losses -- here's what that means.
Equity markets had a tougher day on Wednesday than immediately meets the eye. And did you catch what Trump said?
I have often written or spoken of the 'half-way back' economy, symbolized by a 'reversed' square root symbol.
I will tell you this. Nobody I talk to is talking much about Q2 earnings. In fact, Q3 is not even the topic of conversation.
I don't envy anyone trying to put together a model of these moments. So, you look for an intersection where you might be right no matter what.
The only way for the S&P 500 to make new highs is for the remainder sectors to take the baton from technology and do some of the heavy lifting as well.
We are talking about a finessed, intelligent approach to what we see happening in real time.